The Oregon Tech Board of Trustees met for its spring meeting, approving the 2017-18 operating budget for the University
WILSONVILLE, OR. – The Oregon Institute of Technology (Oregon Tech) Board of Trustees met May 25 at the Portland-Metro Campus in Wilsonville for its spring meeting, approving the 2017-18 operating budget for the University. The budget enables strategic investment opportunities balanced against the realities of state fiscal constraints.
Oregon Tech Board Chair Dr. Lisa Graham said, “We are excited about the planned investments in our students and university, which will have big payoffs in the medium- and long-term for Oregon Tech, our communities and the state. Through targeted investments we expect to positively influence student outcomes, including retention, graduation rates, and successful careers after graduation.”
Oregon Tech vice president for Finance and Administration, Brian Fox, summarized the recommended operating budget for the university. Fox said while the primary goals of the 2017-18 budget are to ensure stability and continuity for academic and administrative operations and to deliver on the shared investment promise to our students during the tuition setting process, the Trustees also saw it important to approve a strategic investment pool for future growth and to ensure flexibility given uncertain state funding. The total budget is proposed at $61.9 million. After discussion, the Trustees unanimously approved the 2017-18 annual operating budget.
The university’s Education and General Fund operating budget is the primary budget for Oregon Tech. It includes revenues from tuition and fees, State General Fund appropriations and other income. These revenues are used to fund instruction, public service, academic support, student service, physical plant and administrative expenses of the institution.
About Oregon Tech
Founded in Klamath Falls in 1947, Oregon Institute of Technology is the premier public polytechnic institution in the Pacific Northwest. Oregon Tech provides bachelor’s and master’s degree programs in engineering, health technologies, business, technology, communication, and applied sciences that prepare students to be effective participants in their professional, public, and international communities through applied and relevant learning and professional practice. Oregon Tech has a full-service, residential campus in Klamath Falls, an urban, industry-focused campus in Wilsonville, an Online Campus, and offers degrees at Boeing Seattle and at other sites. Visit www.oit.edu to learn more about Oregon Institute of Technology.